Electrawinds reorganization plan OK'd by creditors, validated by court

By Kali Hays

New York, April 24 - Electrawinds SE said that its plan of reorganization received approval from company creditors and validation from the Commercial Court in Ostend on April 22, according to a Thursday news release from the company.

As previously reported, the proposed judicial reorganization plan contains a substantial carve-out of assets and transfers debt to a newly incorporated entity sponsored by the Tecteo-group.

The companies' activities under the plan will be reduced to liquid bio activities, without a Serbian rendering project that was recently divested, some operational wind projects and solar projects.

Electrawinds is an Ostend, Belgium-based renewable energy company.

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